RUPEE FALLS 7 PAISE TO CLOSE AT 83.03 AGAINST US DOLLAR

On Friday, the Indian rupee experienced a depreciation of 7 paise, reaching 83.03 (provisional) against the US dollar. This movement was influenced by a robust American currency and elevated crude oil prices in the international market. Forex traders attributed the depreciation to foreign fund outflows, which exerted pressure on the rupee. However, the downside was cushioned by positive domestic market sentiments.

On Thursday, the rupee had concluded on a flat note, settling at 82.96 against the US dollar. This came after the Reserve Bank of India's decision to maintain the key policy rate unchanged for the sixth consecutive time, indicating a commitment to vigilant monitoring of inflation.

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